Friday, December 20, 2013

Latest News in Green Appraising

If you haven’t heard yet there are new tools to help boost appraiser’s competency related to appraising buildings with green features. Besides the numerous resources and trainings now offered by the Appraisal Institute (http://www.appraisalinstitute.org/education/green/default.aspx), the Residential Green and Energy Efficient Addendum gives lenders, underwriters, appraisers, buyers, and/or agents a tool to accurately describe a property’s “green” features.

These features can be anything related to green building, sustainable building, renewable energy or energy efficiency. The advantage of this new addendum is the ability to capture a wide variety of these often overlooked features in one place. The addendum can be filled out by the builder, the energy rater, the homeowner, or the appraiser. Ideally, the person who is most familiar with the project’s “green” features needs to supply the necessary information for the addendum. When completed, the Residential Green and Energy Efficient Addendum can be attached to the Uniform Residential Appraisal Report. 

Click here to download the Residential Green and Energy Efficient Addendum. To learn more about how to use the information included on the Residential Green and Energy Efficient Addendum as a tool to appraise “green” homes, stay tuned to our next blog. 

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